HRNBiz.com - an ideal "work-from-home" solution

Hi

As April 15th approaches, many of us are looking for ways to maximize deductions on our tax bills. But, did you know that, as a home based business owner, you might be able to deduct a percentage your day-to-day household expenses?

Below are just a few of the expenses that may be considered tax deductible under the IRS Home Office deduction*:

  • Real estate property taxes
  • Mortgage interest
  • Rent payments (if you don’t own your home)
  • Utilities
  • Homeowners or Renter's insurance
  • Depreciation on your home (if you own)
  • Painting, and repairs

There are two essential requirements you must meet in order to qualify for the deduction:

1. You must use that part of your home regularly and exclusively for business purposes.

2. The business part of your home must be either your principal place of business or the location where you meet with clients or customers in the normal course of conducting business.

So, if you're thinking about launching a home business this year, be sure to start by keeping good records so that you can capitalize on the tax savings next April!

Just another perk of working at home!

Regards,

Debra

*P.S. For more detailed information about the Home Office deduction, visit homebusiness.about.com or consult a tax professional.

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3/11 - Renovations, Remodels & Referrals
2/11 - Will Home Improvement Contractors Pay a Commission?
1/11 - Reinventing Your Career
11/10 - HRN Success Story
6/10 - Financing a New Business
5/10 - Busy Home Improvement Season
4/10 - Tax tips
3/10 - Your Way To Work At Home
2/10 - HRN Operating Costs
1/10 - Tips for Success
12/09 - HRN Success Story
10/09 - Work at Home Resources
9/09 - Running Your Business On The Go!
7/09 - Opportunity In Your own Backyard
6/09 - Starting a Home-based Business
5/09 - Finding the Right Home Business
4/09 - Good News
3/09 - HRN Success Story
2/09 - Pitfalls of Working From Home
1/09 Home Improvement Spending Increases
Winter 2009 - Recession Proof Business
Fall 2008 - What's in a Name?
Summer 2008 - Typical Day for an HRN Owner
Spring 2008 - Value of Prescreened Professionals
Winter 2007 - Top Ten Home Based Businesses
Fall 2007 - Finding Good Contractors
June 2007 - Misconceptions About HRN Business
Winter 2007 - Home-based Business Self Evaluation
Fall 2006 - HRN Business Fills a Contractor Need
 

For more information about starting a Homeowner Referral Network in your area, you may:

Fill out our online form to request more information. Or, call Debra Cohen at (516) 374-8504.

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